An easy way to earn money online? I disagree!

[pam]

I was browsing sites this morning and ran across this so-called great money making opportunity just for handing out credit cards.  It caught my attention enough to dig into their site for two reasons; one being that it is just too easy sounding, and second being that this is definitely not the time to be pushing credit cards on anyone.  Times are tough for everyone at that moment and the idea of encouraging people to get sucked into debt in the hopes of making a couple of bucks doesn't sit well with me.  My morals always stand in between me and the big bucks so many claim to be making online! 

Anyway, this whole "opportunity" bugged me enough that I thought I'd post a journal about it so other's can see what it's really all about and, hopefully, avoid it.  Of course, if my interpretation of what the opportunity is all about is wrong and someone wants to set me straight, feel free.   

The company is called mycreditcardcash * dot * com (I don't even want to provide a direct link to them, but if you are interested in having a look, you can type the URL in yourself and check it out.  The homepage sounds interesting and definitely something anyone can do.  They provide easy sign up and even better, they do all the legwork and technical stuff for you.  Great!  So, I started reading the FAQs and so far so good.  It says: 

Once you join, you will immediately have your own website containing over 100 different types of credit cards on it. You'll get a login and a password where you can log into your own personal control center for your new website. You will be able to change the look and feel of your new website, check how many visitors are coming to your website, check how much money you've made and will have access to all kinds of material to help get your new website off the ground and popular!

Your website contains over 100 popular credit cards on it, organized by category. Just refer people to your website and when they apply for a credit card online through your site, you will receive huge commissions! Many of our credit cards have payouts of $40 and up! 

The excitement immediately died off on the next paragraph that explains you don't get paid for people applying (so much for getting paid just for handing out credit cards).  You only get paid if they are approved.  I suppose that's fine because they are looking for a targeted market, but my time and efforts should account for something.  Oh well. 

Then, the next line made me put on the brakes and actually made me a bit mad.  It states that I will only be charged (huh? charged??) $1.97 to join and to cover the cost of them activating my website, but they do ask that I have at least two people to sign up for a new credit card.  After 14 days, they will bill me $37.95 a month until you have two people sign up for a new credit card, and after that, you will never be billed again.  Keep in mind that they made it clear signing up for a credit card isn't what is going to get you paid, it's qualifying.   

I see this becoming disastrous for anyone who becomes one of their "affiliates."   They are making money from you, not you from them.  I have read articles over the years that show that most people that go out searching for places to apply for credit cards online, generally don't have very good credit to begin with and they are hoping for that one company to give them a chance (or even a second chance) so they can build up their credit.  It's very likely that these people will never be approved, and in turn, you will never get paid.  However, they will get paid by the $37.95 a month they are billing to YOUR credit card every month.  What a racket!!! 

They do end their FAQs, though, with a long blurb about how much money you can make with them.  With the "huge commissions" you can earn, they say you can earn over $100,000.00 a year with them.  Wow, if it were that easy to make that kind of money online, why would anyone deal with the stressful commutes daily? 

I hope everyone stays far from this one.  If you want to read up on it yourself, you can look their company up online.

***Editing to include:*** 

I forgot that I wanted to mention that the above company was found on what is thought to be a well known site for people to go to for work from home jobs and has been around a long time.  It was talked about in one of their work from home blogs.  I don't want to share the name of that site because they do have some good things on there and I'm sure they work hard on the site, but I do want to include an additional word of caution to be careful of what you sign up for and where you type in your credit card number, regardless of where you find any opportunity.  The person sharing this was obviously an affiliate and has a large audience to promote it too (sadly), but to see that this particular company was being promoted there was a little disappointing to me. 

 

[tinkerbellba895]

Feb. 16, 2009 at 10:49 AM

I don't thank it will last long. I agree with you why give anyone a credit card?

[BonanzleDeals]

Feb. 16, 2009 at 10:55 AM

WOW, I shouldn't be surprised that there's a site like that out there, but I am! In this day and age of foreclosures and bankruptcies...let's entice more people to get into more debt! And it's a scam on top of it all! The sad thing is someone is going to register and someone is going to try to get a credit card. Amazing!